Friday, May 02, 2003 11:18:53 AM
Fmilt: Since you (and others) have a legitimate concern and need for clarification of Management intentions, don't you think it is proper to ask Management for such clarification in order that you (and others) can make an informed judgment and intelligent vote on the proxy regarding Options? Don't you think Management should be as forthcoming as possible in advance of such a vote to clarify any confusion, misunderstanding, or uncertainty on the part of shareholders to enable them to make an informed decision on how to vote?
It seems to me that both Management and Shareholders have mutual obligations to one another in this regard. Management could have done a better job of explaining the need and purpose of new Option grants as well as what safeguards will be in place to reassure shareholders that their distribution and exercise will not be abused. But they are not mind-readers and it is equally appropriate for shareholders to ask management (hopefully in a civil way) for a clarification of whatever concerns may be impairing their ability to make a fair and informed judgment on how to vote the issue. Shareholders can also inform Management that in the absence of satisfactory clarification and regard for their concerns that they will feel compelled to vote against Management on this issue.
It seems to me that this is a more productive way for shareholders to address the issue and to spend their energy than to endlessly repeat themselves on this board. We have had sufficient discussion here. It seems to me that those with legitimate concerns should address those concerns to management prior to their voting, not after the issue has been voted. Those who receive a response from Management can inform us of their response. This places the burden on Management to assist shareholders in making an informed judgment and they (management) will deserve the consequences of whatever their efforts may be. This, it seems to me, is the responsible thing to do.
It seems to me that both Management and Shareholders have mutual obligations to one another in this regard. Management could have done a better job of explaining the need and purpose of new Option grants as well as what safeguards will be in place to reassure shareholders that their distribution and exercise will not be abused. But they are not mind-readers and it is equally appropriate for shareholders to ask management (hopefully in a civil way) for a clarification of whatever concerns may be impairing their ability to make a fair and informed judgment on how to vote the issue. Shareholders can also inform Management that in the absence of satisfactory clarification and regard for their concerns that they will feel compelled to vote against Management on this issue.
It seems to me that this is a more productive way for shareholders to address the issue and to spend their energy than to endlessly repeat themselves on this board. We have had sufficient discussion here. It seems to me that those with legitimate concerns should address those concerns to management prior to their voting, not after the issue has been voted. Those who receive a response from Management can inform us of their response. This places the burden on Management to assist shareholders in making an informed judgment and they (management) will deserve the consequences of whatever their efforts may be. This, it seems to me, is the responsible thing to do.
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